ARMENIA


Relocation is a complex process of moving to another region, city or even country. Currently there are many options where to go, and one of them is Armenia. It is a country with a thousand-year history, spiritual and material heritage, a comfortable climate for life and great business opportunities. Today Intermark will tell you about the main features of relocation to Armenia.
Armenia – all about opening a company
Taxes:

• Income tax/corporate tax - 18%
• VAT - 20%
• Income tax (payroll tax) – 21%
• Social insurance payments (for citizens of Armenia and TRC holders) - 4.5% for salaries up to 500 thousand drams (more than 500 thousand drams - 10%), as well as military tax
• Reduced taxes for IT startups:
• Income tax rate is reduced from 18% to 0%;
• VAT 0% for export of services;
• The tax rate on employees' salaries is reduced from 21% to 10%

Company registration - is the most popular form of LLC

• Advantages:
• Possibility of registering an LLC in the One Window system
• Duty free

Timing:

• Company registration takes 1-3 working days
• Opening a bank account in 2-3 business days

Required documents:

• Decision of the founders
• Declaration of establishment
• Passport of the head and founders
• Charter

!Important! Documents must be translated into Armenian and certified by a notary

Please contact us for the details of the procedure!

Armenia - hiring

Advantages:

- minimum package of documents

Permissions

- Certificate of legal residence / Temporary residence card (based on TD)
- Term: up to 1 year (with subsequent annual extension for 1 year)
- Registration at the address of residence (within 15 calendar days after receiving the TR card)

Requirements for a Temporary Residence Permit

• Employment contract / civil law contracts with a local employer
• No PHP required

Timing of the procedure

• Issuance of a TR card: 30 - 40 calendar days
• Obtaining a Social Security Number: 1-2 business days

Finding accommodation in Armenia. The cost of apartments in Yerevan

Immigration

Armenia is very generous with its visa-free policy.
Citizens of more than 60 countries can enter Armenia for tourist and business purposes without a visa, and can stay in the country for 180 days within a year. The list of countries includes CIS, almost the whole Europe and such countries as Australia, the U.S., South Korea, UAE and others.
Nationals of 70 countries can obtain electronic visa in advance by applying online and can stay in Armenia either for 21 days or for 120 days with the purposes like tourism, visiting family, medical treatment, short educational courses as well as business, sporting and cultural events. Above all e-visa can be extended by next 60 days.

As per general rule foreigners who are planning to stay in Armenia for a longer term would need to obtain a temporary residence permit. Those who are planning to work for a local employer would also need to receive a work permit. These documents can be valid for up 1 year and require prolongation in case of longer stay.
Due to the fact that Armenia is a part of Eurasian Economic Union, immigration is significantly easier for citizens of Russia, Belarus, Kazakhstan and Kyrgyzstan. These nationals can work in Armenia without the work permit. Some other categories of foreigners (business owners, directors of commercial organizations with foreign investments, HQS in some areas of economy and science, employees of representative offices of foreign companies, etc.) are also exempt from work permit requirements. These exceptional citizens would still need to procure a specific type of temporary residence permit called “Certificate of legal stay”, although the procedure is much easier, starting from 1st January 2022 when labour contracts, temporary residence permits and certificates of legal stay are procured on-line at the official digital platform.

Relocation

Demand for rental apartments has risen sharply, especially in Yerevan. Demand continues to grow, and the number of offers is very limited. This is related to the mass relocations of citizens of Russia, Ukraine, Belarus and Kazakhstan. At the same time, the attitude towards those who move, including from Russia is very good. Russophobia is not observed. Rental rates increased by 20% in the last month. Besides MasterCard and Visa, you can pay for goods and services with a Mir payment system card.

Moving / Shipment of Personal Goods

Armenia together with Belarus, Kazakhstan, Russia and Kyrgyzstan is a part of the EAEU (Eurasian Economic Union), therefore shipments moved in between member states are exempt from customs duties and fees. For other countries, import duties amount to 4 euros per kg. For the citizens of Armenia shipping their goods overseas, Intermark recommends registering at the Armenian consulate in host location in order to avoid paying completely or decreasing the amount of import duties due upon return.

COVID-19 status quo

At present, the following COVID-19 entry rules are in place. The following documents are required to enter:

1. Either a COVID-19 PCR test certificate* with a negative result taken within the previous 72 hours, or
2. Certificate* of complete vaccination against COVID-19, in dosages defined according to the instructions for use of the given vaccine.

∙ For single-dose vaccines, certificate* confirming that it was injected at least 28 days (4 weeks) before entering the country.

∙ For multi-dose vaccines, certificate* confirming that the last dosage was injected at least 14 days before entering Armenia.

∙ A certificate with a negative result or a vaccination certificate is not required for children up to 6 years 11 months 29 days old.

(The travellers EAEU countries should present the certificates through “Travelling without Covid-19” mobile application)

How can we help:

- Quickly create a relocation plan for your team
- Organization of the whole process on a turnkey basis
- Clearly prescribe the terms and costs that will be observed
- We make roadmaps - a transparent sequence of actions from the beginning to the end of the process
- We provide checklists for documents
- We always stay in touch and quickly provide any updates

If you still have questions and you need an expert assessment of a particular country, our managers are ready to provide it to you:
Varvara Shatova
Head of International relocations department
vs@intermark.ru
Elena Gorshkova
Head of International relocations department
eg2@intermark.ru